DeepMatter Group PLC - Bristol-based company focused on digitising chemistry - Says it currently has cash of GBP400,000, ahead of its biggest billing periods in the first quarter. However, the directors concluded in fourth quarter that the company required further cash resources in order to execute on its strategy of customer acquisition and investing in revenue growth. Directors have engaged with existing and potential institutional investors over the past six weeks. Says it is in talks to secure a "material equity investment" at a significant discount to the current share price. DeepMatter also says is in advanced discussions to provide DigitalGlassware platform to Standigm.
"Shareholders should be aware that discussions remain ongoing with the Directors currently believing any equity funding will complete in Q1 2022," it adds.
Current stock price: 1.04 pence
Year-to-date change: down 48%
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
